Note: this is in the context of 'programmatically extending Office/M365', I don't think the OP was referring to COM in general.
COM is at the base of WinRT, which is pretty much _not_ deprecated.
If only they would improve the tooling, instead of like I am doing COM in Windows 95 with Visual C++ 5 kind of experience, because every time there is some project to improve the experience it gets killed after a while, and we're back to yet another C++ framework with the MIDL command line compiler.
(Though, going on recollection from past Q&As the excel devs have done, a more fundamental issue is that few people working they fully understand how COM works, and they are getting fewer)
The app itself (Outlook) dropping COM support is simply given it no longer needs COM support for add-ins, it can drop COM itself.